If you really think about it, it's easier getting a loan for a car than a loan for bus fare!
  • loading

    We found 2 HDFC Car Loan Eligibility Calculator

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    8.25% - 9% Fixed
    Up to ₹4,720 One time fee
    1L Min
    1-7 Years
    Response Time Within 30 minutes
    Rs.2,500 Amazon voucher free PAPERLESS APPROVAL OPTION AVAILABLE
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    13.50% - 15% Fixed
    Up to ₹5,310 One time fee
    75K Min
    1-7 Years
    Response Time Within 30 minutes
    Rs.2,500 Amazon voucher free Paperless approval option available
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria

    HDFC Car Loan Eligibility Calculator is Rated as "Excellent!" by 6244 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Car Loan BYTES FROM OUR KITCHEN

    An Overview about HDFC Car Loan

    HDFC has attractive car loan offers for new and used cars. It has appealing interest rates, easy repayment tenures and large loan amounts. Customers can avail of three different car loans to suit their needs. You can avail of a loan for:

    • New Car
    • Pre-Owned Car
    • Loan Against Car

    HDFC offers car loans that finance 100% of your cost to purchase the car. Repay the loan over 7 years. You can check if you are eligible for a car loan in a minute and be approved of one in half an hour. Enjoy fixed interest rates and stability of your EMI every month. HDFC aims at making the process fast and hassle-free for their customers. With low down payments, competitive pricing, transparency and deals offered to customers, this car loan stands out as one of the best offers. HDFC ensures that there are no hidden charges in the loan process which makes customers happy with the clarity of the loan amount and applicable fees.

    HDFC also has tie ups with a number of authorised pre-owned car dealers to provide loans to customers seeking used cars. Get fast approvals and doorstep service with this loan. The car should not be older than 7 years for private use, and 6 years for commercial use.
    And even if you don’t have income documents to present, the bank has a car loan that makes it even more easier for you. The HDFC Loan Against Car Loan gives you an interest rate lower than 2% on a personal loan. You can get a maximum loan amount based on the value of the car.

    HDFC Car Loan Eligibility

    The HDFC car loan is offered to salaried individuals as well as self-employed businessmen. Your eligibility for a car loan is based on a number of factors such as your age, income and whether the bank can be sure you are capable of repaying the loan. You are also required to submit documentation that can support your identity, age, address and income claims.

    Apply for Car Loan Online

    New cars

    Employment

    Minimum age

    Maximum age at the end of loan tenure

    Work experience

    Minimum annual income

    Minimum turnover

    Landline facility required

    Salaried

    21 years

    60 years

    2 years, having worked with the same employer for at least a year

    Rs. 1,80,000

     

    Yes

    Sole Proprietorship

    21 years

    65 years

    2 years in business

    Rs. 60,000 for standard cars.

     

    Yes

    Rs. 1,00,000 for mid-sized and premium cars

    Partnership Firms

         

    Rs. 60,000 for standard cars.

     

    Rs. 4,50,000

    Yes

    Rs. 1,00,000 for mid-sized and premium cars

    Private Limited Companies

         

    Rs. 60,000 for standard cars.

     

    Rs. 4,50,000

    Yes

    Rs. 1,00,000 for mid-sized and premium cars

    Public Limited Companies

         

    Rs. 60,000 for standard cars.

     

    Rs. 4,50,000

    Yes

    Rs. 1,00,000 for mid-sized and premium cars

     

    Pre-owned cars

    Employment

    Minimum age

    Maximum age at the end of loan tenure

    Work experience

    Minimum annual income

    Minimum turnover

    Landline facility required

    Salaried

    21 years

    60 years

    2 years, having worked with the same employer for at least a year

    Rs. 1,00,000

     

    Yes

    Sole Proprietorship

    25 years

    65 years

    3 years in business

    Rs. 60,000

     

     

    Yes

    Partnership Firms

         

    Rs. 60,000

     

    Rs. 4,50,000

    Yes

    Private Limited Companies

         

    Rs. 60,000

     

     

    Yes

    Public Limited Companies

         

    Rs. 60,000

     

     

    Yes

    Hindu Undivided Family- HUF

         

    Rs. 60,000

     

    Yes

     

    Loan against car

    Employment

    Minimum age

    Maximum age at the end of loan tenure

    Work experience

    Minimum annual income

    Minimum turnover

    Landline facility required

    Salaried

    21 years

    65 years

    2 years, having worked with the same employer for at least a year

    Rs. 1,00,000

     

    Yes

    Sole Proprietorship

    21 years

    65 years

    3 years in business

    Rs. 60,000

     

     

    Yes

    Partnership Firms

         

    Rs. 60,000

     

    Rs. 4,50,000

    Yes

    Private Limited Companies

         

    Rs. 60,000

     

     

    Yes

    Hindu Undivided Family- HUF

         

    Rs. 60,000

     

    Yes

     

     

    HDFC Car Loan Documentation required

    In order to complete the eligibility process, you need to submit documentation to prove your identity, age, address and income. The following are the documents you will need.

    • ID proof -
      • For salaried individuals and businessmen: Any official document that can be used to identify yourself such as a copy of your passport, voters ID, PAN card, driver’s licence, ration card.
      • For Partnerships: Partnership deed
      • Private Limited Companies: Memorandum and Articles of Association / Certificate of incorporation
    • Age proof - Any official document that can be used to verify your age will suffice such as a copy of your passport, voters ID, PAN card, driver’s licence, ration card, employer certificate or ID, School or College leaving certificate.
    • Address proof - You are required to prove your place of residence through a ration card, driver’s licence, Passport, telephone bill, electricity bill, credit card statement with a copy of your credit card, or an employer’s certificate.
    • Signature proof - The bank also needs to verify your signature as it appears on your passport, driver’s license, credit card statement, banker’s verification, copy of margin money paid to the bank.
    • Income proof
      • For salaried employees, you need to present your latest salary slip with the latest Form 16/ Latest Income tax returns. You can submit the HDFC bank corporate salary account statement for the last 3 months for salaries above Rs. 8,000.
      • For businessmen, you need the latest/previous year’s Income tax returns with the advance tax paid challan or the latest IT assessment order.
      • For Partnership,Private and Public Limited Companies, you need the latest ITR and balance sheet along with Profit and Loss account.
    • In case you are transferring your loan, you need to submit the foreclosure statement from the previous bank.
    • The repayment schedule for 9 months for personal vehicle, and for 12 months for commercial vehicles.

    Factors Affecting HDFC Car Loan Eligibility

    Your HDFC Car Loan Eligibility can be affected by a number of factors. A few have been listed below.

    CIBIL score - CIBIL score is your credit score assigned by the Credit Information Bureau Limited. A high credit score could make your loan process easy and smooth. A low credit score could prove difficult to secure a loan.

    Age - You can get a loan only when you reach the age of 21 years. The maximum age poses a greater obstacle. You must finish the repayment period by the age of 65 years. This is where age can affect your eligibility.
    Income - The loan amount you are seeking to purchase your car may not always be the same as what you are eligible for. Your loan amount depends greatly on how much income you can show. If you end up being short on the eligible income scale, you can add on your immediate family member’s income to compensate the difference.

    Debt - Any debt you already have might affect your eligibility. Your debt-to-income ratio is a very important factor while taking out a major loan. If you already have another loan, or credit card debt, this could significantly reduce your eligible loan amount or total eligibility.

    How CIBIL Score affects HDFC Car Loan Eligibility

    Your CIBIL score is determined by the Credit Information Bureau (India) Limited which has come to play a very crucial role in India’s Financial System. CIBIL collects and stores all information related to your credit history like credit cards, loans, payments, defaults, spending patterns, and so on. A number of things could negatively affect your score like defaulting on your EMIs or minimum due payments. A lower score reduces the amount of loan you are eligible for. In extremely bad situations, you might not be eligible for a loan at all. You will need to build your score back through a long process. So it is important when you take credit from banks and financial institutions to pay your dues on time and play by the rules to ensure a good credit score for when you need it again.

    How to Increase your HDFC Car Loan Eligibility

    If you find yourself not eligible for the loan amount you are looking for, there are ways to change that.

    Pay off other debts - You will need to repay other loans and credit cards in order to increase the amount of loan you might get. Never take a personal loan right when you plan to take a big car loan or home loan in the near future. This could affect your debt-to-income ratio, and this will significantly reduce your loan amount.

    Co-applicants - You can include the income of your spouse, father, mother, son, daughter, brother and sister to increase your eligibility. They will be brought on as co-applicants of the loan even if the car is not in their name.

    Increase your credit score - Find ways to bring your credit score up. You could spend more on your credit card and pay it back ahead of time. CIBIL scores are tricky because even closing a credit card can put a ding in your score simply because your available credit limit is significantly reduced. So do your research and find ways to improve your score.

    HDFC Bank Car Loan Eligibility Calculators

    HDFC Bank offers a quick and easy eligibility calculator on its website. Simply enter your details to find out if you are eligible for a loan. You can also view the exact total cost and EMI of your car loan. You can then decide whether the loan is suitable for you and apply online. Get special discounted rates of interest when you apply for a loan online.

    You can also check your eligibility on BankBazaar.com. Enter your details and view the results of the loans you are eligible for. You can read further about the HDFC Car Loan offered and apply online directly through BankBazaar.com.

     Loading your search... Loading your search...
  • Car Loan Reviews

    • HDFC Bank Car Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      Initially HDFC bank has promised me some thing around 8% of interest rate in concern to my car loan but they have disclosed my loan with 8.65% . They need to stick on their promises. The customer service and the response part was good with Hdfc bank. Within 3 days of time they have disbursed the loan. The rate of interest is low when compared with others.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 19, 2017
    • HDFC Bank Car Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      Initially HDFC bank has promised me some thing around 8% of interest rate in concern to my car loan but they have disclosed my loan with 8.65% . They need to stick on their promises. The customer service and the response part was good with Hdfc bank. Within 3 days of time they have disbursed the loan. The rate of interest is low when compared with others.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 19, 2017
    • HDFC Bank Car Loan
      "Good service"
      0.5 2.5/5 "Just OK"
      The HDFC bank executive told that they can do the commercial car loan vehicle only if I am having 5 cars in my name. So that was the reason I haven't got the loan with HDFC bank. The customer service and the response was average with HDFC bank. The rate of interest is nominal with HDFC bank.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 18, 2017
    • HDFC Bank Car Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I didn't get the car loan from HDFC bank, because my loan got sanctioned by AXIS bank so that was the reason I haven't proceed with HDFC bank car loan. The rate of interest provided by HDFC is nominal . The customer service and the response was also good with HDFC.
      Was this review helpful? 0
      , pune
      Reviewed on Jul 18, 2017
    • HDFC Bank Car Loan
      "Good benefits"
      0.5 5.0/5 "Blown Away!"
      HDFC Bank has offered me a preapproved car loan which had a convenient documentation process and the disbursement was also on time. The interest rate and processing charges is normal and the after loan services are also good and smooth without any hassles.
      Was this review helpful? 1
      , new delhi
      Reviewed on Jul 13, 2017
    • HDFC Bank Car Loan
      "Overall good services"
      0.5 4.5/5 "Excellent!"
      HDFC Bank has been good overall in the car loan services. The documentation was taken on time and the process was quick. The rate of interest was of 8.5% which was a very nice deal and the processing charges was high. It was around 12K. The after loan services was also smooth,.
      Was this review helpful? 0
      , pune
      Reviewed on Jul 13, 2017
    • HDFC Bank Car Loan
      "High on ROI"
      0.5 4.0/5 "Great!"
      I received calls from HDFC Bank for the car loan. The response was quick and they informed me the details. The bank also checked about my requirement. The interest rate and processing charges was on high for me, so I cancelled my plans in taking the loan.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jul 13, 2017
    • HDFC Bank Car Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      The response was really good with HDFC bank. The rate of interest is high when compared with other banks. HDFC customer service gave very good follow up in concern to my car loan application. The service which was given by Hdfc bank was good, and I would say it was a better service offered by HDFC Bank. But I have not opted the loan from them as they was a delay with respect to documents submission.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jul 13, 2017
    • HDFC Bank Car Loan
      "Not Satisfied with the services"
      0.5 2.0/5 "Expected more"
      The process was good but HDFC Bank declined my application for the car loan. I was contacted initially and they collected my documents. The interest rate was also pretty high when compared to other banks. The charges was high too. The bank did not cal back and inform me as to why my application got declined.
      Was this review helpful? 0
      , bhiwadi
      Reviewed on Jul 13, 2017
    • HDFC Bank Car Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I dropped the idea to buy a car right now its because of my personal reason. HDFC is best in the market, they have called and confirmed about my requirements and suggested the vehicle for me. Then I have informed them , I don't have an idea to buy the car right now
      Was this review helpful? 1
      , valsad
      Reviewed on Jul 12, 2017
    • HDFC Bank Car Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      I had received good response from HDFC bank towards my car loan application. I had been contacted by the bank for the loan and they provided the required information for the same. In 2011 I have taken this loan and the process was very smooth and now its closed the loan amount is 2.50 lakhs
      Was this review helpful? 0
      , haridwar
      Reviewed on Jul 12, 2017
    • HDFC Bank Car Loan
      "Convenient Process"
      0.5 5.0/5 "Blown Away!"
      HDFC is processing the request fast, they were able to complete the loan process on time. HDFC is taking some high interest rate but I am fine with that. I purchased alto and swift car, HDFC sanctioned 90% of loan from on road price with avery less processing fee.
      Was this review helpful? 0
      , vellore
      Reviewed on Jul 12, 2017
    • HDFC Bank Car Loan
      "Its Good"
      0.5 5.0/5 "Blown Away!"
      HDFC done a fast process they have disbursed within five days of time, they have fulfilled my requirement they have sanctioned Rs.6.3 lakhs for the tenure of four years. With good interest rate as per the market. Processing fee is also pretty nominal its good.
      Was this review helpful? 1
      , chennai
      Reviewed on Jul 10, 2017
    • HDFC Bank Car Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      When I applied car loan through online channel, there was good response from HDFC, I approached the bank directly, I submitted the documents to HDFC bank, they have taken only o3 hours to process the loan. They gave me on road value overall it was a good experience
      Was this review helpful? 0
      , new delhi
      Reviewed on Jul 10, 2017
    • HDFC Bank Car Loan
      "Customer friendly service"
      0.5 4.0/5 "Great!"
      I took the car loan of Rs. 6 lakhs from HDFC, they gave me 8.75% of interest, I felt its a nominal one compared to other competitor. HDFC taken only the processing fee of Rs.2500 from the disbursement amount. I am very fine with their service they sanctioned the loan to the dealer on time.
      Was this review helpful? 0
      , chennai
      Reviewed on Jul 10, 2017
    • HDFC Bank Car Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      When I applied car loan through online channel, there was good response from HDFC, I approached the bank directly, I submitted the documents to HDFC bank, they had taken only 3 hours to process the loan. They gave me on road value overall it was a good experience.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jul 10, 2017
    • HDFC Bank Car Loan
      "Better service"
      0.5 3.0/5 "Satisfactory"
      The response was really good with HDFC bank. The rate of interest is high when compared with other banks. HDFC customer service gave very good follow up in concern to my car loan application. The service which was given by Hdfc bank was good, and I would say it was a better service offered by HDFC Bank.
      Was this review helpful? 0
      , bathinda
      Reviewed on Jul 10, 2017
    • HDFC Bank Car Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      The HDFC bank car loan process goes as follows, Verification is done in 3 days and then the paper work took 2 days and final process will take 3 days, Overall they took around a week to time disburse . The require loan has been disbursed and I am satisfied. The rate of interest is nominal.
      Was this review helpful? 0
      , chennai
      Reviewed on Jul 10, 2017
    • HDFC Bank Car Loan
      "Better service"
      0.5 4.0/5 "Great!"
      The car loan services provided by HDFC bank is really good. HDFC bank took around 10 days to disburse my car loan. The customer service and the response provided by HDFC bank is really good. The rate of interest is average with HDFC bank. I am happy with the loan amount too.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Jul 10, 2017
    • HDFC Bank Car Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      HDFC Banking service is awesome with my car loan application. Totally they have given me a very good experience. They took around 3 days of time to disburse my car loan. The rate of interest is minimal. But the fee and charges are nominal with HDFC.
      Was this review helpful? 0
      , ghaziabad
      Reviewed on Jul 09, 2017
    Common Loader Icon
  • reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.